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<<OK, y'all got me here - what EXACTLY, is 2-cycle billing? Could someone please explain it simply and, preferably, with an example or two?>>


Here is a web site that discusses what is in store for credit consumers who are unfoolish and dont pay their balances off each month...

I found it a rather interesting and enlightening article. It mentions 2-cycle billing and I'll para-phrase it and add what I think it means in english. If its not correct anyone please let me know too HEHEHEheheh.

From the Article:

Meanwhile, the grace period before finance charges are imposed on your purchases is shrinking--in many cases down from 25 or 30 days to just 20. And some issuers have gone to "two-cycle" billing, meaning you are charged interest for two months instead of one if you fail to pay off your current balance and did not pay interest in the previous month.

To me I took that to mean that two-cycle billing is where the credit card issuer does not require the typical minimum payment once a month. Instead its every other month. KEWL I only have to make a payment once every other month...

The real gotcha is the intrest accures as normal, monthly. What this means is that it will take even longer for a person making only the minimum payment or even ppl fooled into making payments only once ever other month. That means more intrest fee's paid to the credit card companies. ACK...

Hope that helped and Be Foolish - DONT BE FOOLED!!!



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